Market News

Property sales on the Fraser Valley Real Estate Board’s  Multiple Listing Service® (MLS®)  in September were the third lowest for that month in the last decade, while new listings for September ranked the second highest. Sukh Sidhu is FVREB’s president. “This is the third month in a row based on the 10-year average where we’ve seen lower sales combined with a higher influx of new listings.” The Fraser Valley Real Estate Board processed 1,165 sales in September, an increase of 12 per cent compared to the 1,044 sales during the same month last year and a decrease of 13 per cent compared to 1,341 sales in August. Read more »Original post blogged on b2evolution.

The Fraser Valley Real Estate Board processed 1,341 sales on the Multiple Listing Service® (MLS®) in August, an increase of 35 per cent compared to the 997 sales during the same month last year and slightly higher than the 1,322 sales in July. Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “We typically see a summer dip in sales in August compared to July and that didn’t happen this year. We attribute the current steady market to interest rates remaining favourable, as well as buyers taking advantage of home prices softening slightly in certain markets and an influx of new inventory across all property types.” The board posted 2,644 new properties on its MLS® in August, an increase of 26 per cent compared to August of last year and 10 per cent fewer than it received in July. The number of active listings in the Fraser Valley remained at 10,074 in August, on par with July’s volume.    Read more »Original post blogged on b2evolution.

The Fraser Valley Real Estate Board processed 1,322 sales on the Multiple Listing Service® (MLS®) in July, an increase of 20 per cent compared to the 1,101 sales during the same month last year, however 17 per cent fewer than the 1,588 sales in June. While sales decreased month-over-month, listings went up. The board posted 2,931 new properties on its MLS® in July – 6 per cent more than received in June and 24.5 per cent more than in July 2010 – pushing overall inventory to 10,073 active listings, the highest level in the Fraser Valley since last summer.    Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “Last month, we were busier listing rather than selling properties, which is good news for prospective buyers. A buyers’ market means REALTORS® will have more homes to show their clients and increased negotiating power on their behalf.” Read more »Original post blogged on b2evolution.

For three consecutive months, the percentage of properties sold in the Fraser Valley compared to those that were available for purchase has remained at 16 per cent, reflecting a balanced market starting to favour buyers.  In June, the Fraser Valley Real Estate Board processed 1,588 property sales on its Multiple Listing Service (MLS®), while at the same time had 9,758 active listings available. Sukh Sidhu, president of the Board, explains, “When supply and demand remain as consistent as they have since April, it indicates a stable market." Read more »Original post blogged on b2evolution.

The Fraser Valley Real Estate Board processed 1,608 property sales on its Multiple Listing Service (MLS®) in May, an increase of 9 per cent compared to 1,477 sold during May of last year, and an increase of 6 per cent compared to April’s 1,516 sales.      Sukh Sidhu, president of the Board, reports, “Overall, the Fraser Valley market is in a balanced position, however there are significant differences amongst individual communities and property types stressing the importance of getting local expertise if you’re thinking of buying or selling. Read more »Original post blogged on b2evolution.

The best of commercial real estate in the Fraser Valley was showcased at an inaugural awards gala presented by the Fraser Valley Real Estate Board (FVREB) and the Business Fraser Valley (BFV) newspaper on May 26 at the Langley Coast Hotel & Convention Centre.   From a local pub to a seniors’ home to an innovative dairy farm, 11 categories of commercial and mixed use commercial/residential buildings were recognized at the sold-out event attended by local REALTORS®, builders, contractors, architects and developers. Read more »Original post blogged on b2evolution.

The Fraser Valley Real Estate Board, in conjunction with Business Fraser Valley, present the inaugural Commercial Building Awards on May 26, 2011, at the Coast Hotel & Convention Centre in Langley, BC. This gala celebration will recognize the best in commercial and mixed use residential buildings within the Fraser Valley area. The event is expected to draw developers, general contractors, architects, engineers, tradespeople, lawyers, REALTORS®, and business people and attendance is open to the public. There are 29 nominations in six building categories. Find a gallery of the nominations here. For more details and to secure your ticket for this event, go to http://www.businessvi.ca/fvrebcd/. Original post blogged on b2evolution.

The Fraser Valley Real Estate Board processed 1,516 property sales on its Multiple Listing Service (MLS®) in April, a decrease of 15 per cent compared to 1,793 sold during April of last year, and a decrease of 17 per cent compared to March’s 1,818 sales.      Sukh Sidhu, president of the Board, explains, “April’s sales are pretty typical for that month over the last two decades with the 20-year average being 1,580, but softer than what we saw earlier this year.  “The Fraser Valley market was busier than normal in February and March due in part to the tighter credit conditions that kicked in on March 18, plus you add into the mix a focus on the federal election and you get an April that trends back to normal conditions.” Read more »Original post blogged on b2evolution.